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Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fuelling the latest wave of newbuilding orders, with dry bulk carriers "stealing the show". According to the latest weekly report from shipbroker Clarkson Hellas, there was a number of orders to be reported in the dry bulk segment, "starting with a large order of twelve firm plus eighteen option 64,000 DWT Ultramax from Minsheng Financial Leasing at their compatriot yard in China, CIC Jiangsu. The vessels will be delivered from 2015", the shipbroker said.
It added that "it is also known that Victoria Steamship contracted one firm plus three option 95,000 DWT Bulk Carriers at Jiangsu Eastern due for delivery from 3Q 2015 onwards. It has come to light that clients of Shandong Bohai have placed orders for two firm plus option two 82,000 DWT Kamsarmax at Dayang Shipbuilding. From Korea, it is understood that Polaris Shipping have declared their option for the third 300,000 DWT VLOC at Hyundai Heavy Industries Gunsan shipyard for delivery in 2Q 2017. Previously, the Korean owner had also declared an option for their second 207,000 DWT Newcastlemax at Daehan Shipbuilding for delivery in 3Q 2016", Clarkson Hellas noted.
Ship owners are encouraged to invest in the dry bulk segment, with the Baltic Dry Index (BDI) now in the range of 1,500 points. The latest round of gains is attributed on the Capesize and Supramax market firmness, while the Panamax market is still experiencing weakness. According to the latest weekly report from shipbroker Golden Destiny, "the BDI seems to have regained its strength as capesize vessels are finding their strong levels that seem to have lost from the beginning of Chinese Lunar New Year. Chinese demand for imported iron ore has now improved pushing capesize rates to levels of more than $20,000/day, from less than $10,000/day during the first days of February. In the panamax segment, rates are still struggling at maintained levels of less than $9,000/day since the end of February, while Chinese thermal coal port stockpiles are on increase implying lower levels of Chinese thermal coal fixture activity", the shipbroker noted.
It added that "one more encouraging sign for the capesize segment is the record low of fleet growth as February ended with an estimated net addition of only 2 vessels in the current fleet, from a net addition of 14 vessels in January. Furthermore, Chinese iron ore port stockpiles are on decrease for the first time after 21 consecutive weeks of increase. Currently, iron ore stockpiles are about 99,9million tons, but remain at historically high levels and are up by approximately 33.4 million tons from a year ago (50% up year-on-year)".
Meanwhile, according to Clarkson Hellas, "the other markets have been relatively quiet this week; whilst there is nothing to report in tanker or gas side, in the container market one option of 18,000 TEU Container Vessel has been declared by United Arab Shipping Company (UASC). This will be UASC’s 6th vessel of the same size and the delivery is understood to be in 2015. UASC also have eleven 14,000 TEU Container Vessels on order at the Korean shipbuilder’s yard in Ulsan", the shipbroker concluded.
In its own report, Golden Destiny noted that "in the shipbuilding industry, Chinese shipbuilders keep their consolidation process, but it is not yet completed, while they are still facing difficulties in securing new orders despite the signs of shipping recovery. Li Dong, deputy head of the equipment manufacturing division at China’s Ministry of Industry and Information Technology, said that the consolidation process of Chinese yards is hastening, but “not completed yet” and the next step is to encourage stronger yards to further develop their offshore capabilities. “Although there was a slight recovery in the global shipping market in 2013, the growth of global economy remains sluggish and overcapacity of shipyards remains severe,” Li told reporters. In the meantime, Shanghai Merchant Ship Design & Research Institute (SDARI) has unveiled an upgraded version of its very large ore carrier design, touting specifications of greater fuel efficiency, fewer emissions and lower ballast. The new 405,000dwt VLOC is designed to cut fuel consumption from around 97 tonnes to about 80 for the 400,000dwt version, a statement from SDARI said. The new VLOC will require 140,000 tonnes of ballast water, down 50,000 tonnes from the prior design. Its dead weight tonnage will also rise to 405,000 after optimisation of vessel structure. In addition, its CO2 emission will decrease by around 20% compared with the old version. SDARI added that the new VLOC design had attracted interest from Vale, Spanish and Hong Kong shipowners", the Piraeus-based shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
Monday, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
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- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
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